Agent Jordan Woy announced Saturday that defensive end Anthony Spencer re-signed with the Cowboys on a one-year contract. NFL Media Insider Ian Rapoport reported that Spencer can earn up to $3.5 million, per a source involved in the situation. In addition, doctors and trainers will determine when Spencer is ready to hit the field, either during training camp or at a sooner date.

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The Cowboys' franchise player last season coming off 11 sacks in 2012, Spencer is a wild card due to concerns about his knee and advancing age. He is not expected to be ready for training camp in late July, per an ESPN Dallas report from earlier this offseason.

Spencer is the latest example of the wisdom of accepting a lucrative long-term deal when it's offered. Last season's knee injury has cost him a lifetime's worth of security in free agency.